TRANSFOND is the main provider of interbank payment processing services. Except for card payments (which are cleared by Visa and MasterCard), all low-value payments are cleared via the Automated Clearing House for interbank payments, namely SENT, part of the Electronic Payment System.
The Electronic Payment System was implemented via a project jointly financed by the European Union – through the PHARE program - and the Romanian banking community – through TRANSFOND. The implementation of the system was ensured by a mixed team made up of 46 experts from the National Bank of Romania and TRANSFOND.
The project consisted of:
